Red wood sold for Rs 345 crore

The State Government had recently earned a revenue of Rs 345 crore by auctioning 1,136 metric tonnes of red sanders logs.

VIJAYAWADA : The State Government had recently earned a revenue of Rs 345 crore by auctioning 1,136 metric tonnes of red sanders logs. 

About 2,800 metric tonnes of red sanders logs were put for sale through e-tender-cum-e-auction, which was held on December 19, 21, 23, 27 and 29 last year, the officials said.

However, red sanders logs weighing about 1,136 MT were only sold in the e-auction, much to the disappointment of the State Government as it put high hopes on earning a huge revenue through the sale of the precious wood.